Important Information About Exponential and Reciprocal Functions
Not what you're looking for?
Using a present value table, your calculator, or a computer program present value function, answer the following questions. Assistance is needed with the formula to calculate the problems:
Required:
a. What is the present value of nine annual cash payments of $4,000, to be paid at the end of each year using an interest rate of 6%?
b. What is the present value of $15,000 to be paid at the end of 20 years, using an interest rate of 18%?
c. How much cash must be deposited in a savings account as a single amount in order to accumulate $300,000 at the end of 12 years, assuming that the account will earn 10% interest and the interest is reinvested?
d. How much cash must be deposited in a savings account (as a single amount) in order to accumulate $50,000 at the end of seven years, assuming that the account will earn 12% interest and the interest is reinvested"
Purchase this Solution
Solution Summary
The solution provides step by step method for the calculation of interest rate under Exponential and Reciprocal Functions . Formula for the calculation and Interpretations of the results are also included.
Purchase this Solution
Free BrainMass Quizzes
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.